Konica Minolta 1999 Annual Report Download - page 22

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18 KONICA
Consolidated Statements of Income and Retained Earnings
KONICA CORPORATION AND CONSOLIDATED SUBSIDIARIES
For the fiscal years ended March 31, 1999 and 1998
Thousands of
Millions of yen U.S. dollars (Note 2)
1999 1998 1999
Net Sales (Note 4)............................................................................................................................ ¥584,342 ¥584,402 $4,789,689
Cost of Sales (Note 4)...................................................................................................................... 342,543 342,453 2,807,730
Gross profit ................................................................................................................................... 241,799 241,949 1,981,959
Selling, General and Administrative Expenses ............................................................................ 227,224 216,738 1,862,492
Operating income ......................................................................................................................... 14,575 25,211 119,467
Other Income (Expenses):
Interest and dividend income ....................................................................................................... 1,974 2,403 16,180
Interest expenses.......................................................................................................................... (13,749) (9,436) (112,696)
Foreign currency gains, net .......................................................................................................... —3,762 —
Restructuring costs....................................................................................................................... (10,057) —(82,434)
Other, net...................................................................................................................................... (3,615) (5,956) (29,631)
.......................................................................................................................................................... (25,447) (9,227) (208,581)
(Loss) income before provision for income taxes......................................................................... (10,872) 15,984 (89,114)
Provision for Income Taxes (Note 7):
Current .......................................................................................................................................... 2,794 11,202 22,902
Deferred ........................................................................................................................................ (10,269) (1,352) (84,172)
.......................................................................................................................................................... (7,475) 9,850 (61,270)
Minority Interests in Earnings of Consolidated Subsidiaries...................................................... 2(24) 16
Equity in Earnings of Unconsolidated Subsidiaries and Affiliates ............................................. 229 (609) 1,877
Net (Loss) Income........................................................................................................................... (3,166) 5,501 (25,951)
Retained Earnings at Beginning of the Year ................................................................................ 50,284 48,409 412,164
Cumulative effect on prior years of change in accounting for income taxes ............................... 4,998 —40,967
Appropriations:
Cash dividends ......................................................................................................................... (3,576) (3,576) (29,311)
Bonuses to directors and corporate auditors........................................................................... (50) (50) (410)
Decrease in retained earnings resulting from restructuring...................................................... (6,609) —(54,172)
.......................................................................................................................................................... (5,237) (3,626) (42,926)
Retained Earnings at End of the Year........................................................................................... ¥ 41,881 ¥ 50,284 $ 343,287
Yen U.S. dollars (Note 2)
Per Share of Common Stock:
Net (loss) income .......................................................................................................................... ¥ (8.9) ¥ 15.4 $ (0.07)
Cash dividends applicable to earnings of the year....................................................................... 10.0 10.0 0.08
The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.